The Kenney government now faces a massive $24.2 billion budget deficit.
Alberta has blown through $75 billion in financial assets since 2007/08.
The province's net debt is expected to grow by $11 billion over the next three years.
Alberta saw spending reductions of 20 per cent during the reforms of the 1990s.
Economic growth has been considerably weaker than expected.
This year, the province's debt will reach a projected $36.6 billion.
Next year Alberta is expected to surpass B.C. in per-person debt.
Sixty-five per cent of respondents for Alberta were deterred by the high cost of regulatory compliance.